Longbow Finance SA Acquires New Shares in GE Vernova Inc. (NYSE:GEV)

Longbow Finance SA bought a new position in GE Vernova Inc. (NYSE:GEV) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 27,251 shares of the company’s stock, valued at approximately $8,964,000.

A number of other institutional investors have also added to or reduced their stakes in the business. Illinois Municipal Retirement Fund bought a new position in GE Vernova in the 4th quarter worth about $789,000. Los Angeles Capital Management LLC increased its stake in GE Vernova by 2,897.0% in the 4th quarter. Los Angeles Capital Management LLC now owns 40,310 shares of the company’s stock worth $13,259,000 after acquiring an additional 38,965 shares during the last quarter. Avalon Capital Management increased its stake in GE Vernova by 43.0% in the 4th quarter. Avalon Capital Management now owns 1,680 shares of the company’s stock worth $553,000 after acquiring an additional 505 shares during the last quarter. FourThought Financial Partners LLC bought a new position in GE Vernova in the 4th quarter worth about $212,000. Finally, Exchange Capital Management Inc. bought a new position in GE Vernova in the 4th quarter worth about $218,000.

Wall Street Analyst Weigh In

GEV has been the topic of a number of research analyst reports. Citigroup upped their target price on GE Vernova from $361.00 to $437.00 and gave the stock a “neutral” rating in a research note on Thursday, January 23rd. Baird R W upgraded GE Vernova to a “strong-buy” rating in a research report on Thursday, February 13th. Jefferies Financial Group increased their price objective on GE Vernova from $348.00 to $391.00 and gave the company a “buy” rating in a research report on Friday, December 13th. TD Cowen initiated coverage on GE Vernova in a research report on Thursday, December 5th. They set a “buy” rating and a $400.00 price objective on the stock. Finally, Wolfe Research initiated coverage on GE Vernova in a research report on Wednesday, December 4th. They set an “outperform” rating and a $403.00 price objective on the stock. Eight research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $350.13.

GE Vernova Stock Down 3.7 %

GEV opened at $315.74 on Tuesday. The stock has a market cap of $87.11 billion and a PE ratio of 56.79. The business has a 50 day moving average of $363.97 and a 200-day moving average of $302.17. GE Vernova Inc. has a 52 week low of $115.00 and a 52 week high of $447.50.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). The firm had revenue of $10.56 billion during the quarter, compared to analysts’ expectations of $10.70 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The business’s revenue was up 5.1% on a year-over-year basis. Equities analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.32%. The ex-dividend date of this dividend was Friday, December 20th. GE Vernova’s payout ratio is presently 17.99%.

GE Vernova declared that its board has approved a share buyback plan on Tuesday, December 10th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the company to buy up to 6.7% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

GE Vernova Profile

GE Vernova LLC, an energy business company, generates electricity. It operates under three segments: Power, Wind, and Electrification. The Power segments generates and sells electricity through hydro, gas, nuclear, and steam power. Wind segment engages in the manufacturing and sale of wind turbine blades; and Electrification segment provides grid solutions, power conversion, solar, and storage solutions.